24.03.2023 05:38 AM
Forecast for EUR/USD on March 24, 2023

Yesterday, the euro desperately tried to climb above the MACD line on the daily chart, as well as on Wednesday, but at the end of the day, it closed below this line with a black candlestick. Now it is very likely (more than 50%) the euro will not reach the target level of 1.0990.

This image is no longer relevant

The Marlin oscillator reverses, the price is reluctantly heading towards the target range of 1.0758/87. If it breaks through this range, the price may reach the 1.0443/70 range in the medium term - to the lower limit of the newly formed local downward price channel in green.

This image is no longer relevant

On the four-hour chart, the signal line of the oscillator is in a hurry to move into negative territory, after which it can slow down the decline, but having already found itself below the zero line, it will be able to help the price overcome the supports in favorable conditions.

The MACD line is below the target range of 1.0758/87, strengthening this range, so helping the bears will come in handy.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback